Domestic p-xylene price trend:

As can be seen from the p-xylene trend chart, the market price trend of p-xylene this week was temporarily stable. As of the 19th, the ex factory price of domestic p-xylene was 7300 yuan / ton, which was the same as that at the beginning of the week, with a year-on-year increase of 69.77%.

Recently, the domestic p-xylene supply is normal, the domestic PX operating rate is more than 60%, the 600000 ton unit of Sinochem Hongrun Petrochemical operates stably, the unit of Yangzi Petrochemical operates stably, the unit of Pengzhou Petrochemical operates stably, the PX unit of Yangzi Petrochemical operates normally, the unit of Jinling Petrochemical operates stably, the unit of Qingdao Lidong operates at full load, and the unit of Qilu Petrochemical operates stably, About 50% of Urumqi petrochemical units have been started, and the domestic p-xylene supply is general, but some overseas units are still under maintenance. Due to the general downstream demand, the domestic p-xylene price trend remains stable. The closing price of international crude oil fell, and the external price of PX fell. As of the 18th, the closing prices were US $884-886 / T FOB Korea and US $902-904 / T CFR China. Recently, the operating rate of PX unit in Asia was relatively stable. On the whole, the operating rate of p-xylene unit in Asia was more than 60%. The supply of PX goods in Asia was normal, and the external closing price of PX fell slightly, The domestic p-xylene market price trend is temporarily stable.

The crude oil price trend fell this week. The settlement price of the main contract of WTI crude oil futures in the United States was US $78.41/barrel, and the settlement price of the main contract of Brent crude oil futures was US $81.24/barrel. Macroscopically, under the background of the continuous strengthening of the US dollar, it dragged down the reconstruction of oil price valuation. More importantly, some changes have been expected in the fundamentals of supply and demand. Therefore, the previous strong energy demand and tight supply have gradually changed into the improvement of supply and demand caused by the repeated epidemic in Europe and the expectation of the global release of oil reserves, and the oil price has continued to fall. As the Russian pipeline Beixi No. 2 has changed again, the delay and the decline in transmission volume are expected to lead to another surge in European natural gas prices. Crude oil supply is expected to remain tight. In the later stage, it still depends on whether the release of global oil reserves can make up for the gap, and the supply side variables are still changing. In addition, there will be a long short game in demand. In the process of global economic recovery, energy demand is still strong. However, repeated outbreaks and rising inflation in the United States will also suppress demand. The decline of oil price has a certain negative impact on the domestic petrochemical market, and the price trend of p-xylene is temporarily stable.

The downstream PTA market price trend fell this week. As of the 19th, the average PTA market price was 4700-4800 yuan / ton, and the PTA price fell by 3.8% this week. The PTA Market of raw materials declined. The 1.5 million ton unit of Honggang Petrochemical failed to restart last weekend. It is planned to restart around November 19. At present, the operating rate of the industry is maintained at about 79%. The inventory of production enterprises has increased significantly, and the inventory accumulation trend is expected to continue. At present, PTA inventory continues to increase, and the social inventory is about 3.7245 million tons. At present, the power rationing restrictions in many places in China have been cancelled. Although some conditions have improved, the operating rate of polyester plants has not rebounded rapidly as expected, and remained at about 83% as of November 18. Jiangsu and Zhejiang are the main textile bases. The comprehensive start-up rate of looms is around 66%. The start-up of polyester and weaving is still at a low level compared with the first half of the year. The procurement enthusiasm is not high. The market situation of the textile industry is poor, and the market price trend of p-xylene is temporarily stable.

Chen Ling, PX analyst of business society, believes that the current crude oil price is slightly lower, but the cost side support begins to weaken, the downstream PTA and textile market is poor, PTA stocks are accumulated, and the terminal demand is weak. It is expected that there is room for the market price of p-xylene to fall in the later stage.